Alibaba-backed Ant Group said it used Chinese-developed chips to train AI models at a 20% lower cost and with similar results to what Nvidia Corp. chips for the

Joe Tsai took aim at the $500 billion attached to OpenAI's Stargate project—and the idea of investors building data centers "on spec."

Alibaba Chairman Joe Tsai cautioned that so-called hyperscalers — companies with big AI ambitions like Meta Platforms and Microsoft — are rushing to construct data centers that might not be justified by future demand.